In a press release issued today, TNA and Anthem Sports and Entertainment have jointly announced that Anthem is providing “a credit facility” to Impact Wrestling in order to fund operations of the company.
The buzz all through the turmoil that has been TNA’s existence of late has been that Anthem would step up to the plate and provide funding for TNA to continue operations, and by this release it appears that is the case. There is no word yet as to whether Jason Brown of Aroluxe has taken over as the person in charge of day to day operations of the company as was also rumored. Anthem did note in the press release that Billy Corgan has departed the company. Dixie Carter will maintain her role with the organization as Chair of the Company, along with her position on the management board.
The press release is shown below. I will have more to say about this tonight on Around the Ring.
Anthem Sports & Entertainment Corp. and Impact Ventures, parent company of TNA Impact Wrestling, today announced that Anthem has provided a credit facility to TNA to fund operations.
Anthem Sports & Entertainment Corp. is a global sports media company that operates Fight Network, Impact Wrestling’s exclusive broadcaster in Canada, as well as the exclusive worldwide digital streaming partner for all TNA programming. It is also an equity stakeholder of Impact Ventures.
The agreement includes the appointment of Anthem Executive Vice President Ed Nordholm to the Impact Ventures Board of Managers. The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company.
“We have had a successful, long-term partnership with Fight Network as our Canadian broadcaster, and more recently as our global digital partner,” said Dixie Carter. “Anthem’s team has extensive media experience, and I am excited to have that available to us as we plan for the future.”
“We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that. This financing is an extension of the support we have been providing since the beginning of the year,” said Leonard Asper, CEO of Anthem. “There are tremendous opportunities to support the company’s growth on all platforms and in all media along side Dixie and the incredible talent and staff at TNA.”